New Delhi: For those looking to buy gold at great prices, the current period seems the right opportunity to do so. Though gold prices are trading flat on MCX on Monday, the prices of the yellow metal are still nearly Rs 10,800 lower than the rates as compared to August.
Gold futures for June delivery on MCX have remained above Rs 45,000 today, starting on a flat note. The silver futures on MCX have slipped below Rs 65000 per kg after starting over 65,000 per kg. On Thursday, gold was seen moving around in a flat range, however in the last hour, good trading was witnessed. Last week, gold rose more than 700 rupees per 10 grams.
Gold futures for June delivery on Monday opened at Rs 45,349 per 10 grams as against the previous close of Rs 45,418 while Silver futures for May delivery opened at Rs 64,800 per kg as against Rs 65,089. Gold Prices down by nearly Rs 10,800 as compared to August 2020, when the price of 10 grams of gold on MCX reached the highest level of Rs 56191. Last year, gold gave a return of 43%.
On Thursday Gold rallied by Rs 881 to Rs 44,701 per 10 gram in the national capital on Thursday following a sharp recovery in global precious metal prices. In the previous trade, it had closed at Rs 43,820 per 10 gram. Silver also gained Rs 1,071 to Rs 63,256 per kilogram from Rs 62,185 per kilogram in the previous trade.
International gold prices
Gold prices eased on Monday as U.S. Treasury yields rose and global stocks gained after better-than-expected jobs data in the United States fuelled optimism over a swift economic recovery. Spot gold was down 0.3% at $1,723.16 per ounce, as of 0553 GMT. Gold futures were flat at $1,761.20 per ounce, said a Reuters report.